Capital account transaction regulation permits continuity of existing regulations until Central Government amendment or rescission. Section 47 is amended to cover permissible debt-instrument capital account transactions, foreign-exchange admissibility limits, and the prohibition, ... Summary
Capital account transaction regulation permits continuity of existing regulations until Central Government amendment or rescission.
Section 47 is amended to cover permissible debt-instrument capital account transactions, foreign-exchange admissibility limits, and the prohibition, restriction or regulation of such transactions. Regulation-making scope also covers the export, import and holding of currency or currency notes. Existing Reserve Bank regulations on capital account transactions remain valid where regulation-making power has transferred to the Central Government, until amended or rescinded by the Central Government.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.